Stock Market HIGHLIGHTS: Sensex, Nifty end with minor losses as SBI, Titan trigger pullback
Stock Markets LIVE: Triggered by strong show by SBI and Titan stocks, frontline indices Nifty and Sensex pulled back from day's lows to end near their Wednesday closing levels. The markets traded with resilience throught the day, notwithstanding the Federal Reserve Commentary on inflation which had led to crash in the US markets, the previous day.
The BSE Sensex closed the day at 60,836.41, down by 69.68 points or 0.11 per cent. Meanwhile, the Nifty50 index once again managed a closing above 18000. The benchmark index settled at 18,052.70, down by 30.15 points or 0.17 per cent.
Here are key highlights of day's action:
1) In the 50-stock Nifty50, 24 stocks advanced, 25 declined while 1 remained unchanged. In the 30-share Sensex, 14 shares gained while 16 fell. The top gainers were SBI, Tatan, UPL, Bajaj Auto and Hindustan Unilever. The top losers were Tech Mahindra, Hindalco, Power Grid, Eicher Motors and NTPC.
2) In the broader markets, there was stock specific action. Nifty Mid Cap 100 closed at 31,786.85, up by 0.34 per cent. Nifty Small Cap 100 closed at 9,719.65, up by 0.24 per cent.
3) India VIX, a guage of volatility was down 4.32 per cent at at 15.94.
4) Dollar Index was up today and hovering around the 113 mark against the basket f six major currencies. As a result USDINR futures were trading 83.0600, up 0.1275 0.15 per cent on the BSE.
5) Out of 3,584 stocks that traded on the BSE, 1,772 advanced, 1,682 declined and 130 remained unchanged.
Catch all the stock market UPDATES here!
Stock Markets LIVE: Triggered by strong show by SBI and Titan stocks, frontline indices Nifty and Sensex pulled back from day's lows to end near their Wednesday closing levels. The markets traded with resilience throught the day, notwithstanding the Federal Reserve Commentary on inflation which had led to crash in the US markets, the previous day.
The BSE Sensex closed the day at 60,836.41, down by 69.68 points or 0.11 per cent. Meanwhile, the Nifty50 index once again managed a closing above 18000. The benchmark index settled at 18,052.70, down by 30.15 points or 0.17 per cent.
Here are key highlights of day's action:
1) In the 50-stock Nifty50, 24 stocks advanced, 25 declined while 1 remained unchanged. In the 30-share Sensex, 14 shares gained while 16 fell. The top gainers were SBI, Tatan, UPL, Bajaj Auto and Hindustan Unilever. The top losers were Tech Mahindra, Hindalco, Power Grid, Eicher Motors and NTPC.
2) In the broader markets, there was stock specific action. Nifty Mid Cap 100 closed at 31,786.85, up by 0.34 per cent. Nifty Small Cap 100 closed at 9,719.65, up by 0.24 per cent.
3) India VIX, a guage of volatility was down 4.32 per cent at at 15.94.
4) Dollar Index was up today and hovering around the 113 mark against the basket f six major currencies. As a result USDINR futures were trading 83.0600, up 0.1275 0.15 per cent on the BSE.
5) Out of 3,584 stocks that traded on the BSE, 1,772 advanced, 1,682 declined and 130 remained unchanged.
Catch all the stock market UPDATES here!
Latest Updates
This is all we have from the stock markets. I Shivendra Kumar will come back with all the action on Friday, 4 November. Till then, HAVE A GREAT DAY!
Stocks to Buy is Indian Bank, says Analyst Sumeet Bagadia
BSE Index Contribution
BSE Volume toppers
Source: BSE
As we are ending into the final leg of trading today, markets continue their range bound movement. The frontline indices Sensex and Nifty have narrowed their intraday losses with Sensex nraly 50 point shy of Wednesday closing. It was trading at 60,856.40. Meanwhile, the Nifty50 index was trading at 18,056.40, down by 26.45 points or 0.15 per cent.
Vikas Salunkhe
Nifty sell target 17890 Stop Loss 18200
Banknifty sell target 40500 Stop Loss41800
Deepakntr sell target 2210 Stop Loss 2360
Asianpaint sell target 3020 Stop Loss 3170
Sameet Chavan
Buy Nifty 18000 CE @50-45 STOP LOSS 8 TARGET 124
Buy BANK NIFTY 41200 CE @ 145-135 STOP LOSS 32 TARGET 340
Buy IRCTC 760 CE STOP LOSS 12.80 TARGET 37
Buy MCDOWELL 900 CE STOP LOSS 11 TARGET 44
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Rangebound trading continued in the markets. BSE Sensex traded at 60,820.14, down by 86 points or 0.14 per cent. Meanwhile, Nifty50 was trading at 18,048.60, down by 34.25 points or 0.19 per cent.
Bank Nifty was trading at 41,312.50, up by 0.40 per cent. Out of the 15 Nifty sectoral indices, 4 were trading positively led by Nifty PSU Bank Index, Nifty Auto with marginal gains in Nifty media. Nifty Metal and Nifty Pharma were in the red, though the losses were capped.
Nifty IT and Nifty Consumer Durables were the biggest laggards.
Intraday movement BSE Sensex
Source: BSE
Intraday Nifty Movement in Charts
Source: NSE
The rebound in Sensex and Nifty continues as both bench mark indices trading almost flat now, narrowing their opening losses. Sensex was trading at 60,876.28, down by just 29.81 points. Nifty was trading at 18,075.35, lower by 7.50 points from Wednesday closing level.
IPO Watch: Global Health IPO opens today. This is what Zee Business Managing Editor Anil Singhvi recommend about this public issue.
#IPOAlert | आज से 7 नवंबर तक खुला रहेगा
ग्लोबल हेल्थ का IPO, प्राइस बैंड ₹319-336/शेयर
ग्लोबल हेल्थ कंपनी में क्या पॉजिटिव, कहां है जोखिम?
इश्यू में पैसा लगाएं या नहीं?
जानिए #GlobalHealthIPO पर @AnilSinghvi_ की राय@ZeeBusiness LIVE https://t.co/JHHJNpJz8y pic.twitter.com/7WJQcVWqAC
— Zee Business (@ZeeBusiness) November 3, 2022
Gold Price Outlook:
"The uncertainty of future Fed action has dented the appeal for gold in the short term, but with the precious metal already trading close to its lows, one could look at buying on dips for long term rally," Pritam Patnaik, Head - Commodities, HNI and NRI Acquisitions, Axis Securities said.
This led to a boost to the dollar index and the US bonds, which in turn shaved off the bullion prices, he added .
In remarks at a press conference after the Fed raised rates by 75 basis points for a fourth consecutive meeting, Fed chair said there is "significant uncertainty" around the level of rates needed to bring down inflation, but "we still have some ways to go.", Patnaik said. The US Fed has effectively dashed any hope of a pause or slowdown in the future rate hikes, by continuing on the Hawkish path, he added.
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
TRADING CALLS by Anuj Gupta of IIFL Securities
Sell MCX GOLD DECEMBER Futures AT 50700 Stop Loss 50950 TARGET 50300
Sell MCX SILVER DECEMBER Futures AT 59000 Stop Loss 59750 TARGET 58000
Sell MCX COPPER NOVEMBER AT 662 Stop Loss 667 target 650
Sell crude oil nov at 7500 Stop Loss 7650 target 7300
Buy usdinr at 82.60 Stop Loss 82.40 target 83.10
Buy NSE NIFTY AT 17900 Stop Loss 17750 TARGET 18150
BUY BANK NIFTY AT 41000 Stop Loss 40550 TARGET 41650
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Zee Business Managing Editor Anil Singhvi gives his strategy on Nifty and Bank Nifty and also give his views on two IPOs that are opening today - one is Global Health IPO and the other is BIKAJI Foods IPO.